KTH Holding invests in Kitocoat
KTH Holding welcomes Kitocoat AB as new portfolio company. Up to 40% of all food is wasted and this is something Kitocoat want to reduce. Kitocoat’s coating increases the shelf life of fruits and vegetables. The biodegradable and edible coatings are a barrier and prevent microbial growth, keeping fruit and vegetables fresh for longer without any plastic packaging.
Kitocoat was born from materials research at KTH where coatings with antimicrobial properties were developed based on chitin. This is the world’s second most abundant biomaterial (after cellulose) and chitin is found in the shells of crustacean animals, mushrooms and insects. The coatings from Kitocoat are composed of layers of chitin, which creates a barrier against gases going in and out and other damaging factors. In this way Kitocoat mimics the natural defense that crustaceans have used for millions of years but applied it to create a natural and sustainable solution for preserving quality and prolonging shelf-life of fruits and vegetables. As an example in pilot trials pineapples from an Indian producer showed an increased shelf life from 3 days to 21 days.
Kitocoat’s coatings are made of the natural biopolymer called chitosan. Chitosan is safe for use as a protective coating and it is edible and biodegradable. Kitocoat solution is an opportunity to reduce the amount of plastic packaging and reducing environmental problems with microplastics.
Kitocoat was formed by KTH researchers Professor Joydeep Dutta and Dr. Fei Ye who teamed up with Michael Neuman who now is the CEO and drives the company development.
“We saw the opportunity in a transformative solution that is simple to scale but has potential to reduce food waste thus reducing CO2 emission”, Dr. Fei Ye says.
“I am very pleased that we have created something that can make a significant difference and revolutionize supply chains and the handling of fruits and vegetables. A whopping 40% of all produced food goes to waste, which could have fed 3 billion people and is equivalent to emitting 3.5 gigatons of carbon dioxide, says Michael Neuman founder and CEO of Kitocoat.
Currently pilot trials are being run on various fruits and vegetables with potential customers. The next steps also include to scale up production of the proprietary coatings to meet the large volumes of coating solutions needed for the food and vegetables market. Should that not be enough, additional applications exist where antimicrobial properties are desired, for example in fish aquaculture and to prevent black mold on surfaces.
The company has been developed with support of KTH Innovation and KTH Holding now chose to invest as Kitocoat fits the strategic investment focus of research-based companies, especially those addressing sustainability challenges.
“The Kitocoat technology addresses the very large and growing foodtech market. The solution shows promising results and there is customer interest. We are glad to be an investor taking part in building the company further and to explore additional application areas”, says Daniel Carlsson, Investment Manager at KTH Holding AB.
Contact: Michael Neuman: michael@kitocoat.com, phone +46 73-770 11 12
About Kitocoat:
Our vision is to be a global pioneer in sustainable food technology and to revolutionize the way we package and preserve our food. Our main innovation is a biodegradable and edible packaging solution, additive, and coating. This unique technology is designed to protect and extend the shelf life of food without compromising quality and safety. By constantly driving innovation and collaborating with stakeholders in the food industry, we aim to change the playing field and contribute to a more sustainable world. By using edible materials and avoiding plastic-based components, we strive to contribute to a cleaner and more sustainable planet.
About KTH Holding:
KTH Holding invests in early stage start-up companies based on research or education at KTH. KTH Holding is part of the innovation ecosystem at KTH supporting commercialization via investments in companies and intellectual property rights. The aim is to make research, new ideas and knowledge from KTH generate a positive impact in society. The investment portfolio comprises more than 50 companies in many technology fields and development stages. www.kthholding.se